Q & A
My spouse and I have been married for over 30 years and we are about to retire. Will there be any reduction in benefits because we are married?
Answer: None at all. Lifetime earnings are calculated independently for each spouse; couples aren’t penalized because they are married. When both spouses meet all other eligibility requirements to receive Social Security retirement benefits, each spouse receives a monthly benefit amount based…
I know someone who cheats a little on their Supplemental Security Income application. What can I tell them to dissuade them from giving false information?
Answer: Social Security can impose a penalty of up to $5,000 for each occurrence of false information or withheld information that would have prevented a person from collecting benefits. To report fraud, go to http:// oig.ssa.gov/report or call the Social Security…
I’m not sure when I’m going to retire so I want to estimate my retirement benefit at several different ages. What’s the easiest way to do that?
Answer: Use the Retirement Estimator at www.socialsecurity.gov/ estimator, to get a good idea of what a monthly benefit payment may be after retirement. Keep in mind, these are estimates only and not the actual benefit amount. Source: Social Security Administration, via The…
A few years ago, I lost my Social Security card. Now my credit report shows that someone might be using my Social Security number. What should I do?
Answer: If someone is using a Social Security number fraudulently, they can be reported to the Federal Trade Commission at www.idtheft.gov or (877) IDTHEFT (438-4261). For TTY, call (866) 653-4261. Source: Social Security Administration, via The Acorn, 11/26/2014 Notice: The link provided…
I am about to retire, but I still have a young child in my care. Will I receive additional benefits for the child I care for?
Answer: When persons qualify for Social Security retirement benefits, their children may also qualify to receive benefits. An eligible child can be a biological or adopted child or a stepchild. In limited circumstances, persons may also get benefits for a…
I haven’t received my Social Security Statement in the mail the last few years. Will I ever get one again?
Answer: In September 2014, Social Security resumed mailing Social Security Statements to workers ages 25, 30, 35, 40, 45, 50, 55, and 60 who aren’t receiving Social Security benefits, and who don’t have an online Social Security account. Those over age…
I suspect that someone I know is collecting Social Security disability benefits when they shouldn’t be. What is the best way for me to report fraud?
Answer: The administration investigates and seeks prosecution for people who receive benefits for a child or children who aren’t under their care, or who fail to notify Social Security of the death of a beneficiary and continue to receive and cash…
When should my wife begin Social Security?
Full Question: I am 69 and waiting to take Social Security when I turn 70. My wife is 64 and plans to take hers at 66. We are fairly certain that her share of my benefits would be higher than those…
Does my Social Security estimate change if I stop working at 62?
Full Question: I am planning on retiring at 62 . My social security estimator claims I will get about 1800.00. If I wait till I’m 66 the number is much higher. My question is if I retire at 62 and do…
I am totally and permanently disabled by the VA due to service-connected disabilities. Can I withdraw some of my TSP without the 10 percent penalty? I’ve done some research and all I can find is the 10 percent penalty does not apply to people with total and permanent disabilities, but all the literature implies this rating comes from the Social Security Administration.
Answer: The TSP does not levy the penalty. You must convince the IRS that you meet the disability exemption requirement. You are permanently and totally disabled if you cannot engage in any substantial gainful activity because of your physical or mental…